$BTC On July 16, 2024, the value of Bitcoin has seen some significant fluctuations, trading at around $63,313.84, reflecting a change of 5.36% over the past 24 hours.

Most notably, Bitcoin-related wallet activity has slowed to its lowest level since 2010, and the lack of retail participation is believed to be due to speculators being attracted to alternative cryptocurrencies.

In addition, Bitcoin hash rates have seen a sharp decline, raising questions about the continued profitability of miners under these conditions, although most of them are still able to generate profits so far.